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Suzhou
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Industries

Suzhou is the largest economic city in the Jiangsu Province, the GDP totaled RMB 670.1 billion, ranked the first in Jiangsu Province in 2008. The Suzhou municipality consists of five cities --- Changshu, Zhangjiagang, Kunshan, Wujiang and Taicang.

"Southern Jiangsu economic model" has been used to describe the development of three municipalities in Jiangsu --- Suzhou, Wuxi and Changzhou. The model generally referred to the economic development in the 70s and 80s with the growth of township enterprises and collective enterprises. However, the model has already been changed and Suzhou has evolved to become an externally oriented economy. Nowadays, foreign investment and international trade are playing an important role in Suzhou's economy.

Over the years in the 90s, Suzhou has adjusted its development strategy, leveraging on its state level development zones (Suzhou Industrial Park, Suzhou Hi-tech Development Zone, Zhangjiagang Bonded Zone, Kunshan Hi-tech Development Zone, Taihu State Tourist & Resort Development Zone) to attract a large amount of foreign investment and speed up the development of an externally oriented economy. Nowadays, within the driving distance of one hour between Suzhou Industrial Park and Shanghai, there is already a cluster of leading IT parts and components producers (such as TSMC, UMC, Macronix, Foxconn, GSMC, Samsung, Hitachi, Phillips) forming the so called "silicon corridor".

Suzhou is now embarking upon two major strategic directions: to build the city as the "leading destination of FDI" and the "base for new and high-tech industries".

  • Economic Structure
  • Industry Structure
  • Tourism
  • Foreign Trade
  • Foreign Direct Investment

Among the gross industrial output of enterprises of designated size (annual sales above RMB 5 million), the share of state-owned enterprises and collective-owned enterprises dropped from 59.5% in 1997 to 0.9% in 2007. The share of foreign invested companies (FIEs) increased from 46.2% in 1997 to 66.5% in 2007. Private enterprises accounted for 16.8% in 2007 while almost 0.0% in 1997.

Foreign invested enterprises are now one of the major forces of Suzhou's industrial output. In 2007, the gross industrial output of FIEs above designated size reached RMB 1,057 billion, representing an increase of 67 times from 1997.

In 2007, fixed assets investment by private and sole proprietor companies reached RMB 75.2 billion, increased by 11.8% and accounted for 31.8% of Suzhou's total fixed assets investment.

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